Financial Capability and Asset Holding in Later Life: A Life Course Perspective by Nancy Morrow-howell

Financial Capability and Asset Holding in Later Life: A Life Course Perspective

EditorNancy Morrow-howell, Margaret Sherraden, Michael Sherraden

Hardcover | February 10, 2015

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With today's availability of Social Security and Medicare, we typically think of the older years as a stage in life where people are supported financially. However, of the more than 40 million old adults currently living in the US, many are struggling financially living below or near thepoverty line. They are lacking the assets necessary to see them through a period of life that is often longer than expected and that requires more health and long-term care. While financial vulnerability can be most pronounced in old age, it is often created across decades, revealing itself in lateryears when there is little opportunity to reverse a lifetime of disadvantage. The concept of Financial Capability refers to both an individual and structural idea that combines a person's ability to act with their opportunity to act in their best financial interests.In Financial Capability and Asset Holding in Later Life: A Life Course Perspective the concept of Financial Capability is used to underscore the importance of acquiring knowledge and skills while also addressing policies and services than can build financial security. The volume assembles the latestevidence on financial capability and assets among older adults using a life course perspective, arguing that older adults need financial knowledge and financial services in order to build secure lives, and that this process needs to begin before it is too late to make effective changes and choices. Broken into three parts, the chapters in this book written by leading experts in the field blend together empirical findings, economic and social theory, and case studies. Part 1 opens the book with a conceptual and empirical overview of financial capability and assets among older adults using alife course perspective. Part 2 presents chapters addressing financial vulnerability of diverse racial and ethnic groups, people with disabilities, and immigrants. Part 3 includes chapters describing current policies, programs, and innovations, including a review of important issues of working andcaregiving in later life, and a detailed assessment of "age-friendly" banking principles, banking products, services, and policies.

About The Author

Margaret Sherrard Sherraden, PhD, is Professor, School of Social Work, University of Missouri-St. Louis, and Research Professor, Center for Social Development (CSD), Washington University in St. Louis. Nancy Morrow-Howell, MSW, PhD, is the Ralph and Muriel Pumphrey Professor of Social Work and the Director of the Harvey A. Friedman Ce...
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Title:Financial Capability and Asset Holding in Later Life: A Life Course PerspectiveFormat:HardcoverDimensions:280 pages, 9.29 × 6.3 × 0.79 inPublished:February 10, 2015Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199374309

ISBN - 13:9780199374304

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Table of Contents

IntroductionMargaret S. Sherraden and Nancy Morrow-Howell: Financial Vulnerability and Capability across the Life Course: Theoretical PerspectivePart One. Financial Capability in Later Life: Theory and Evidence of Life Course Impacts1. William Emmons and Bryan Noeth: The Financial Crisis and the Life Course: Age, Education, and Race as Predictors of Economic and Financial Outcomes2. Tyson Brown: Race, Gender, and Wealth across the Life CoursePart Two. Financial Capability in Later Life: Vulnerable Populations3. Wilhelmina A. Leigh: Assets and Older African Americans4. Jacqueline L. Angel and Stipica Mudrazija: Economic Security of Older Hispanics: The Role of Social Security and Employer-Based Pensions5. Amanda Barusch and Tracy Golden: Native American Elders and Assets6. Yunju Nam: Immigrant Older Adults: Poverty, Asset Holding, Financial Access, and Public Policy7. Michelle Putnam: Disability, Aging, and Assets and Financial StabilityPart Three. Policies and Innovations8. Jin Huang and Jennifer C. Greenfield: .Lifelong Asset Development Policy: A Capability Approach9. Jennifer C. Greenfield: Long Term Care: Who Pays the Price?10. Ernest Gonzales: Workplace Policies and Practices to Accumulate Assets11. Sehar Siddiqi, Robert Zdenek, and Edward Gorman: A New Dawn: Age-Friendly Banking for Low to Moderate Income Older AdultsNancy Morrow-Howell, Michael Sherraden, and Margaret Sherraden: Conclusion. Innovations and Knowledge Development